[IIousu  OF  Representatives.') 

HOUSE  OF  RE  PRESENT  ATIViJSS,.J^^  12,  I864.~0rdered  to 
fee  printed. 

[By  Mr.  Smith,  of  Alabama.] 


PROPOSITION  OF  FIJNANCE. 

1  Section  1 .   The  Cungres^  of  the  Confederate  Stales  of  Amsrica  do 

2  enact,  That  the  Secretary  of  the  Treasury  be  required  to  issue 

3  two  hundred  and  fifty  millions  of  dollars  in  notes  of  denomina- 

4  tion  of  five  hundred  dollars  to  one  dollar,  redeemable  in  specie 

5  two  years  after  the  ratification  of  a  treaty  of  peace  between  the 

6  Confederate  Government  and  the  United  States ;  that  the  holders 

7  of  Confederate  notes,  now  in  circulation,  be  allowed  to  exchange 

8  the  old  notes  for  the  said  new  issue  at  the  rates  of  five  dollars  of 

9  the  old  for  one  dollar  of  the  new  issue :  Provided,  That  the  said 
10  holders  shall  present  their  notes  for  such  exchange  by  the  first 
U  day  of  May,  1364. 

1  Sec.  2.  That  said  new  notes  shall  be  receivable  in  payment  of 

2  all  public  dues,  including   export  duties,  and  shall   be  a  legal 

3  tender  in  the  payment  of  individual  debts. 

1  Sec.  3.  That  the  payment  of  all  the  treasury  notes  now  in 

2  circulation,  and  not  exchanged  by  the  first  day  of  May,  as  afore- 

3  said,  under  the  provisions  of  this  act,  shall  bo  suspended  until 


4  two  years  after  the  ratification  of  a  treaty  of  peace  between  the 

5  Confederate  Government  and  the  United  States,  and  shall  not,  in 

6  the  meantime,  be  receivable  in  the  payment  of  any  public  dues 

7  except  the  taxes  under  the  tax  bills  of  1863. 

1  Sec.  4.  That  the  power  given  heretofore  to  the  Secretary  of 

2  the  Treasury  to  issue  treasury  notes  be,  and  the  same  is  hereby, 
S  revoked ;  and  that  all  the  treasury  notes  received  into  the  Treas- 
4  ury,  under  the  provisions  of  this  act,  shall  -be  destroyed. 


